Renewable energy sources, notably solar and wind, are reaching price and performance parity on and off the grid globally and, as technologies continue to advance their deployment, prices will likely continue to fall, according to a study by accounting and consultancy firm Deloitte.
Three key enablers — price and performance parity, grid integration, and technology — allow solar and wind power to compete with conventional sources on price, while matching their performance, according to the report “Global Renewable Energy Trends” release today.
“As technologies such as blockchain, artificial intelligence (AI) and 3-D printing continue to advance the deployment of renewables, prices will likely continue to fall and accessibility will improve,” the report said.
The unsubsidized cost of solar and wind power has become comparable or cheaper than traditional sources and new storage options are making renewables more dispatchable — once an advantage of conventional sources. Read More
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